White House Blog: Economyhttps://www.whitehouse.gov/blog/economy
enWeekly Address: Celebrating Fifty Years of Medicare and Medicaidhttps://www.whitehouse.gov/blog/2015/08/01/weekly-address-celebrating-fifty-years-medicare-and-medicaid

President Barack Obama tapes the Weekly Address in the Roosevelt Room of the White House, July 23, 2015. (Official White House Photo by Amanda Lucidon).

In this week's address, the President celebrated the 50th birthdays of Medicare and Medicaid, which together have allowed millions to live longer and better lives. These programs are a promise that if we work hard, and play by the rules, we'll be rewarded with a basic measure of dignity, security, and the freedom to live our lives as we want. Every American deserves the sense of safety and security that comes with health insurance. That's why the President signed the Affordable Care Act, and that's why he will continue to work to ensure that Medicare and Medicaid, programs that are fundamental to our way of life, stay strong.

]]>The PresidentWhite HouseWeekly AddressEconomyFinancial ReformHealth CareWorking FamiliesAmanda LucidonAmanda StoneBarack ObamaLindsay HolstWashington, DCSat, 01 Aug 2015 10:00:00 +0000<a href="/blog/author/Lindsay Holst" class="author-name">Lindsay Holst</a>345141 at https://www.whitehouse.govOur 4 Favorite (Gif) Moments from this Week's Episode of West Wing Week: 07/31/15 or, "Jambo Kenya"https://www.whitehouse.gov/blog/2015/07/31/our-4-favorite-gif-moments-weeks-episode-west-wing-week-073115-or-jambo-kenya
Here's something not enough people know about: Every week, a team of White House videographers puts together a short episode encapsulating what the President did that week -- who he met with, where he traveled, and all sort of other fun moments in between.

This week's episode covers the President's trip to Kenya and Ethiopia -- where he attended the 2015 Global Entrepreneurship Summit and met with leaders across government, business, and civil society -- and it's stocked with some pretty breathtaking images. Here are four of our favorites, complete with timestamps — but you should really want the full thing for yourself.

00:06 When the President disembarked from Marine One -- and Kenyatta University said hello.

]]>The PresidentThe Vice PresidentThe First LadyWhite HouseEconomyForeign PolicyInside the White HouseAdam GarberChinaEthiopiaJim ObergefellKenyaLindsay HolstLos AngelesMarc MaronNairobiSan FranciscoUnited StatesFri, 31 Jul 2015 15:13:50 +0000<a href="/blog/author/Lindsay Holst" class="author-name">Lindsay Holst</a>345111 at https://www.whitehouse.govAdvance Estimate of GDP for the Second Quarter of 2015https://www.whitehouse.gov/blog/2015/07/30/advance-estimate-gdp-second-quarter-2015
Real GDP rose faster in the second quarter than in the first, even after a large upward revision to first-quarter growth. Strong personal consumption led the rebound as consumers spent more of the windfall gains from lower oil prices that they had saved in the first quarter, and many of the temporary factors that restrained growth in the first quarter faded. The President is committed to pushing Congress to increase investments in infrastructure as part of a long-term transportation reauthorization, to open our exports to new markets with new high-standards free trade agreements, and to ensure that fiscal brinksmanship or the sequester does not return in the next fiscal year as outlined in the President’s FY2016 Budget.

FIVE KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF ECONOMIC ANALYSIS

1. Real gross domestic product (GDP) rose 2.3 percent at an annual rate in the second quarter according to the BEA’s advance estimate, while first-quarter GDP growth was revised up from a 0.2 percent decline to a 0.6 percent increase. The revision to first-quarter GDP growth is mostly accounted for by higher fixed investment growth than previously estimated, in both the business and residential sectors. In the second quarter, the rise in GDP growth was led by a faster pace of personal consumption growth than the first quarter and a shift from negative to positive net export growth. The drag from declining structures investment was also much less negative for overall growth in the second quarter than in the first. Incorporating the effects of the annual GDP revision released today (see point 2), real GDP has now risen 2.3 percent over the past four quarters.

]]>White HouseEconomyJason FurmanThu, 30 Jul 2015 13:30:50 +0000<a href="/blog/author/Jason Furman" class="author-name">Jason Furman</a>345031 at https://www.whitehouse.govTrends in Occupational Licensing and Best Practices for Smart Labor Market Regulationhttps://www.whitehouse.gov/blog/2015/07/28/trends-occupational-licensing-and-best-practices-smart-labor-market-regulation
“Occupational licensing” may sound like a dry subject, but its rise has been one of the more important economic trends of the past few decades. Today, one-quarter of U.S. workers must have a State license to do their jobs, a five-fold increase since the 1950s. Including Federal and local licenses, an even higher share of the workforce now has a license. Smart regulation of workers can benefit consumers through higher-quality services and improved health and safety standards. Yet too often, policymakers do not carefully weigh the costs and benefits when licensing a particular profession, resulting in a patchwork of different licensing decisions and requirements. Estimates suggest that while 1,100 professions are regulated in at least one State, fewer than 60 are regulated in all 50 States. A report from the Department of Treasury, Council of Economic Advisers, and the Department of Labor released today explores the rise in occupational licensing and its important consequences for our economy.

By making it harder to enter a profession, licensing can reduce employment opportunities, lower wages for excluded workers, and increase costs for consumers.

This week, I will join President Obama in Nairobi, Kenya, for the sixth-annual Global Entrepreneurship Summit. GES 2015 will shine a spotlight on the extraordinary potential of entrepreneurs in sub-Saharan Africa and beyond.

Five of the world’s 10-fastest growing economies are African. Innovation hubs have sprung up in Nairobi, Cape Town, and Lagos. A new generation of upstart entrepreneurs has formed tightly knit communities committed to creating African-based solutions to the region’s challenges.

Today, Nairobi is the site of major African headquarters for Google, Microsoft and IBM and has earned itself the nickname “Silicone Savannah” for the innovative ecosystem that has taken root. But the region still faces obstacles. Limited banking options make it difficult for entrepreneurs to access affordable capital. Societal barriers make it difficult for young and female entrepreneurs to access investors.

Here are a couple numbers that help show exactly what the law has done these past years.

$11 billion

The Consumer Financial Protection Bureau (CFPB)—the new cop on the beat created by Wall Street Reform—has provided nearly $11 billion in relief for over 26 million consumers harmed by financial institutions—including a new action announced today.

$141 billion

In all, $141 billion has been paid by 14 of the biggest banks for mortgage-related violations in the lead-up to the crisis, including $50 billion in gross consumer relief to distressed homeowners through the National Mortgage Servicing Settlement.

>$600 billion

Banks have added more than $600 billion of additional capital, which is money they can lend and which increases resiliency. At the same time, banks have reduced their leverage, making them more stable and less reliant on borrowed money.

“Dodd-Frank” is shorthand for the Wall Street Reform and Consumer Protection Act, whose chief co-sponsors on Capitol Hill were Senator Chris Dodd and Representative Barney Frank. These reforms — that the President signed into law exactly five years ago today — and others the Administration has put in place since the crisis represent the most sweeping set of financial reforms since the Great Depression.

Why does it matter and why should you care? Let’s take a walk down memory lane.

(And if you just want a quick breakdown of the numbers behind five years of Wall Street reform, take a look here.)

You’d be surprised at exactly what lenders were able to get away with during the housing bubble — including loading up a mortgage with extra costs to jack up their own compensation in the short term before shuffling that loan over to a third party, making it their problem. With these bad incentives, lenders steered borrowers toward bad products they couldn’t afford (even when they qualified for better, lower-cost options), often burying the terms of made-to-explode mortgages in the fine print.

Dodd-Frank fixed that. Today, lenders have to assess borrowers’ ability to pay a mortgage first. They have to take responsibility for the risks of the loans they make, giving them “skin in the game” to encourage responsible lending. And they will have to present them to the borrowers in clearer, easier-to-understand terms. And the CFPB is keeping all kinds of consumer lenders honest — from credit card companies, to mortgage lenders, to debt collectors, to student loan servicers. Since 2011, the CFPB’s enforcement actions have delivered nearly $11 billion in relief to more than 26 million consumers harmed by illegal practices -- including a new action announced today.

(Those practices include deceptive marketing, unfair billing, and discriminatory practices by big banks and other financial institutions — and a whole lot more. Learn more about them here.)

President Barack Obama makes remarks at the University of Wisconsin at La Crosse in La Crosse, Wisc., July 2, 2015.
(Official White House Photo by Pete Souza)

Today, the President spoke at the University of Wisconsin in La Crosse, reflecting on the great strides America has made in the past six years in economic reform. With over 64 months of private sector job growth and the lowest uninsured rate ever, the United States had made great progress in helping middle class families, but our work isn't done.

]]>The PresidentWhite HouseEconomyBarack ObamaCrosseMolly WolfePete SouzaUnited StatesWisconsinFri, 03 Jul 2015 21:15:59 +0000Molly Wolfe342221 at https://www.whitehouse.govMeet Nick: One in 5 Million Americans Who Could Be Helped by the Overtime Rulehttps://www.whitehouse.gov/blog/2015/07/02/meet-nick-one-5-million-americans-who-could-be-helped-overtime-rule
It's a simple premise: A hard day's work ought to lead to a fair day's pay.

Earlier this week, President Obama announced that the Department of Labor will propose extending overtime pay to nearly 5 million workers. That would mean that most salaried workers making less than an estimated $50,440 next year would now be guaranteed overtime pay.

1. The private sector has added 12.8 million jobs over 64 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm employment rose by 223,000 in June—and all those jobs came from the private sector. Although total job growth was revised down somewhat in April and May, much of the revision is attributable to lower government employment than previously estimated. On the whole, our economy has added 2.9 million new jobs over the past twelve months, near the fifteen-year high achieved in February.

]]>White HouseJobsEconomyBetsey StevensonThu, 02 Jul 2015 13:30:00 +0000<a href="/blog/author/Betsey Stevenson" class="author-name">Betsey Stevenson</a>342121 at https://www.whitehouse.govChart of the Week: What Is the Export-Import Bank and Why Should You Care?https://www.whitehouse.gov/blog/2015/06/30/chart-week-what-export-import-bank-and-why-should-you-care
Tonight at midnight, America’s Export-Import Bank will shut its doors because, after 81 years, Congress has failed to reauthorize it for the first time in history.

So what is the Export-Import Bank?

It’s an independent federal agency with one simple mission: support American jobs by helping businesses sell their products abroad. The majority of these companies are small businesses – the engine of our economy – and helping them go global plays a critical role in strengthening our country’s economy.

That’s why nearly 60 countries, including China, make significant investments in their own Export-Import Banks. These competitors are fighting for sales and the export-backed jobs that come along with it – and starting tomorrow when our bank has expired, American businesses will be less competitive to keep those jobs at home. When our Export-Import Bank lapses, China and our other rivals will pick up the slack, putting American businesses and American workers at a disadvantage. In fact, a senior official from one of China’s versions of the Export-Import Bank recently said that the expiration of our bank is a “good thing” for China.

Take a look to see just how far behind China we are when it comes to support for our Export-Import Bank:

That’s a good thing, because as President Obama has said, past trade deals haven’t always lived up to the hype. Now, thanks to the new rules of the road laid out by Congress, our latest trade deal — the Trans-Pacific Partnership (TPP) — can put in place high, enforceable standards that reflect our values on the environment, on workers’ rights, on transparency, and more.

Here’s a quick look at the rules the President signed today and how they will help ensure American workers can benefit from the most progressive trade deal in history.

It was one of those impromptu meetings that could only happen in a hallway.

One afternoon in late 2012 the tech and education teams had a few minutes to compare notes. And that day, we realized the same problem had been bugging us all: Internet access in schools was incredibly slow. So slow, in fact, that the average American school had the same connectivity as the average American home -- but served hundreds of times as many people.

We all know slow Internet is the worst -- and it’s doubly frustrating when it’s a matter of kids learning, and not just a given evening’s entertainment.

Slow Internet in our schools meant teachers in separate classrooms couldn’t do something as basic as stream a couple of videos at the same time. It meant that interactive maps or online biology lessons simply wouldn’t load.

So even if a school wanted to invest in a tablet for every child, in our Wi-Fi world, it couldn’t be much more than a backlit textbook. If we didn’t do anything about it, school would become the only place in kids’ lives not being transformed by technology.

]]>The PresidentWhite HouseEconomyEducationInside the White HouseTechnologyDavid EdelmanR. David EdelmanUnited StatesMon, 29 Jun 2015 19:28:59 +0000<a href="/blog/author/R. David Edelman" class="author-name">R. David Edelman</a>341691 at https://www.whitehouse.govWest Wing Week: 06/26/15 or, “This Is Healthcare In America”https://www.whitehouse.gov/blog/2015/06/26/west-wing-week-062615-or-healthcare-america
This week, the President talked with podcast star Marc Maron in Los Angeles, spoke with Mayors at a conference in San Francisco, and hosted an LGBT reception back in the People's House. The First Lady wrapped up her trip to Europe. And the Supreme Court issued a landmark decision, ensuring millions of Americans will continue to receive tax credits to make their health insurance more affordable. That's June 19th to June 25th or, "This Is Healthcare In America."

]]>The PresidentThe Vice PresidentThe First LadyWhite HouseEconomyHealth CareInside the White HouseUrban PolicyAdam GarberChinaJim ObergefellLos AngelesMarc MaronSan FranciscoUnited StatesFri, 26 Jun 2015 19:31:48 +0000<a href="/blog/author/Adam Garber" class="author-name">Adam Garber</a>341566 at https://www.whitehouse.govToday's Decision:https://www.whitehouse.gov/blog/2015/06/25/todays-decision
Today, the Supreme Court upheld a critical part of the Affordable Care Act — landmark health care reform that the President signed into law five years ago. Millions of Americans who got covered in the Health Insurance Marketplaces can now stay covered, no matter where they live.

On March 23, 2010, I sat down at a table in the East Room of the White House and signed my name on a law that said, once and for all, that health care would no longer be a privilege for a few. It would be a right for everyone.

Five years later, after more than 50 votes in Congress to repeal or weaken this law and multiple challenges before the Supreme Court, here is what we know today:

This law worked. It's still working. It has changed and saved American lives. It has set this country on a smarter, stronger course.

]]>The PresidentWhite HouseGet Covered 2015EconomyHealth CareBarack ObamaThu, 25 Jun 2015 20:23:47 +0000<a href="/blog/author/Barack Obama" class="author-name">Barack Obama</a>341371 at https://www.whitehouse.govHappy Birthday ConnectED!https://www.whitehouse.gov/blog/2015/06/25/happy-birthday-connected
Economic research typically finds huge payoffs to investments in education. For example, a recent CEA report estimated that a $1.00 investment in early childhood education produces roughly $8.60 in social benefits. And as of 2011, the college wage premium – the difference in median earnings between individuals with a bachelor’s degree and those with a high-school diploma – was around 65 percent. Unfortunately, these benefits remain unevenly distributed, in part due to substantial disparities in educational access and attainment.

Technology offers one of the most promising tools for expanding access to high-quality education, and this week marks the two-year anniversary of President Obama’s ConnectED initiative to deliver personalized, digital learning to American K-12 schools. While only two years old, ConnectED is already overachieving, and is well on its way to meet the President’s goal of connecting 99 percent of students to high-speed broadband and wireless Internet in their classrooms and libraries by 2018.

]]>EconomyEducationJason FurmanJeff ZientsVirginiaThu, 25 Jun 2015 19:01:24 +0000Jason Furman and Jeff Zients341366 at https://www.whitehouse.govStates and Cities Taking Action on the Minimum Wagehttps://www.whitehouse.gov/blog/2015/06/24/states-and-cities-taking-action-minimum-wage
Since his first day in office, President Obama has put working families at the top of his agenda. In the State of the Union this year, he reinforced his commitment to helping working Americans lead productive and successful lives, from encouraging Congress to enact paid sick leave, to asking Republicans and Democrats alike to raise the minimum wage. Traveling across the country, the President knows that in too many households, moms and dads struggle to make ends meet for their families – even when they’re working full-time jobs.

While waiting for action from Congress, the President has been leading by example. In February 2014, President Obama signed an Executive Order to raise the minimum wage for individuals working on new federal service contracts, because, as the President said, “if you cook our troops’ meals or wash their dishes, you shouldn’t have to live in poverty.”

But, as many in state and local government know, it can take time for Washington to act. As a dad and former Mayor for two decades, I know that families can’t wait. Communities can’t wait.

That’s why it’s great that states, cities, and counties are taking action, passing initiatives that will lead their communities into the 21st century.

On Monday, Governor Gina Raimondo signed a bill that will raise the minimum wage for Rhode Islanders. Governor Raimondo’s signature continues a trend of local governments and communities helping those who work hard day-in and day-out to put food on their tables and a roof over their heads.

]]>EconomyCaliforniaConnecticutGina RaimondoIntergovernmentalJerry AbramsonKansas CityLos AngelesMarylandMissouriSt. LouisVermontWASHINGTONWed, 24 Jun 2015 14:36:46 +0000Jerry Abramson341036 at https://www.whitehouse.govThird Estimate of GDP for the First Quarter of 2015https://www.whitehouse.gov/blog/2015/06/24/third-estimate-gdp-first-quarter-2015
Real GDP for the first quarter was revised up this morning, reflecting slightly higher growth in personal consumption, private investment, and government expenditures than previously estimated. The small first-quarter decline in overall GDP was driven by a number of factors including harsh winter weather and tepid foreign demand. However, the combination of consumption and investment—the most stable and persistent components of output—continued to rise at a robust year-over-year pace. This solid trend matches the strong pace of job growth and employment reduction observed over the last year. The President is working to build on these underlying trends by opening our exports to new markets with high-standards free trade agreements, boosting investment in infrastructure, and avoiding harmful budget cuts like the sequester.

FIVE KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF ECONOMIC ANALYSIS

1. Real gross domestic product (GDP) edged down 0.2 percent at an annual rate in the first quarter of 2015, according to the third estimate from the Bureau of Economic Analysis. This report reflects an upward revision of 0.5 percentage point to overall GDP growth. The slower first quarter follows a solid increase of 3.6 percent at an annual rate during the second half of 2014. Over the past four quarters, GDP rose 2.9 percent. First-quarter growth was likely affected by a number of transitory factors including unusually severe weather, the West Coast ports dispute, and various measurement issues. A decline in net exports was another important contributor to weak GDP growth. Indeed, net exports subtracted nearly 2 full percentage points from quarterly GDP growth. Furthermore, structures investment subtracted about 0.6 percentage point from GDP (see point 4), reflecting reduced oil drilling in the wake of last year’s decline in oil prices. Despite the decrease in GDP, real gross domestic income—an alternate measure of economic output—increased 1.9 percent at an annual rate in the first quarter.

]]>White HouseJobsManufacturingSmall BusinessEconomyJason Furmanwest coastWed, 24 Jun 2015 13:30:00 +0000<a href="/blog/author/Jason Furman" class="author-name">Jason Furman</a>341021 at https://www.whitehouse.govAn Opportunity to Fight Poverty and Stand Up for Workers Through Tradehttps://www.whitehouse.gov/blog/2015/06/23/opportunity-fight-poverty-and-stand-workers-through-trade
For decades, we’ve fought to secure a series of trade programs that have delivered results at home and around the globe. This week, Congress will consider whether or not to continue these programs that help bring people out of poverty, create new opportunities for developing countries to grow, and help retrain American workers who have lost their jobs through no fault of their own.

The Trade Preferences Extension Act, which the Administration has worked on closely with Congress, will not only expand and improve Trade Adjustment Assistance (TAA), which helps laid-off U.S. workers get back on their feet, but will also extend programs that help support jobs and economic growth in developing countries. These programs include the African Growth & Opportunity Act (AGOA), Generalized System of Preferences (GSP), and Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE) Act.

Combined, these improved trade programs present a unique opportunity to both support American workers and help create jobs in the developing world.

Here is a look at key provisions of the Trade Preferences Extension Act that Congress is considering this week:

]]>White HouseJobsTrade and ExportsEconomyCincinnatiGreg NelsonHaitisub-Saharan AfricaUnited StatesTue, 23 Jun 2015 22:28:23 +0000Greg Nelson340796 at https://www.whitehouse.govBy the Numbers: #RaiseTheWagehttps://www.whitehouse.gov/blog/2015/06/23/numbers-raisethewage
Since 2013, President Obama has been calling on Congress to raise the federal minimum wage. Under the Fair Labor Standards Act, the minimum hourly wage an employer must pay an employee for work is currently $7.25. While Congress has not moved to increase the federal minimum wage, many states, cities, and business owners have heeded the President’s call to action by raising their minimum wages to well above the federal standard.

“To every mayor, governor, and state legislator in America, I say, you don’t have to wait for Congress to act; Americans will support you if you take this on.”

— President Obama

Since the President first asked Congress to #RaiseTheWage, 17 states have answered his call. Will your state be next?

“This year, more than half of our states guarantee their workers a wage higher than the federal minimum, but despite this progress we still have work to do. I continue to encourage states, cities, counties and companies to lift their workers' wages, and I urge Congress to finally do the right thing and give America a raise.”

— President Obama

When it comes to raising the minimum wage, the numbers speak for themselves:

]]>White HouseEconomyWorking FamiliesTanya SomanaderTue, 23 Jun 2015 17:54:37 +0000<a href="/blog/author/Tanya Somanader" class="author-name">Tanya Somanader</a>340836 at https://www.whitehouse.govThe Faces of TAA: How This Program Can Help Change So Many Liveshttps://www.whitehouse.gov/blog/2015/06/22/faces-taa-how-program-can-help-change-so-many-lives
Trade Adjustment Assistance (TAA) is a program with an obscure name but an important purpose.

The 21st century economy is driven by an ever-changing global marketplace, with new industries redefining consumer demand and reshaping our workforce. That means that, to outcompete other countries, America’s workforce needs all the job training and support needed to tap into new opportunities that the 21st century can present.

That is what TAA was created to do. It provides job training. It provides income support for workers in training programs. It has provided much-needed support to 2.2 million workers since it was created, including more than 23,000 veterans since October 2009 alone.

But here’s the problem, it will expire soon.

This week, Congress has the chance to reauthorize TAA, the vital program that millions of hardworking Americans have relied on. Major expansions in the program that the President fought for lapsed in 2014, and because major extensions and changes to TAA usually happen alongside other trade-related bills, passing TAA now is our best chance to get a bigger, better version of the program back in place. That's why the president is fighting so hard for it.

Here are just a few of the stories of workers who have benefited from TAA:

President Barack Obama tapes the Weekly Address in the Map Room of the White House, June 18, 2015.
(Official White House Photo by Lawrence Jackson)

In this week's address, the President spoke to his priority of growing the economy and opening new avenues of opportunity for hardworking Americans. While the United States has already made economic progress, with more than 12 million new private-sector jobs created over the past five years, there’s still more to be done.

That’s why the President has continued to press for strong, high-standard trade agreements that are good for American workers and good for American businesses. And it’s why his Administration has partnered with mayors and governors across the country on issues such as minimum wage and paid leave that impact hardworking Americans. The President discussed impactful initiatives like these in his address before the Conference of Mayors on Friday.

Today, Secretary Pritzker and the Commerce Department released a report showcasing that in 2014, nearly 3.2 million jobs—44 percent of all jobs supported by goods exports—were supported by the export of goods to our Free Trade Agreement (FTA) partners.

In 2014, the United States reached record levels in goods and services exports for the fifth consecutive year totaling $2.34 trillion. Since 2009, goods exports to our current FTA partners grew 64 percent versus 45 percent to the rest of the world. The United States continues to have a trade surplus in manufactured goods, $56 billion in 2014, with the countries in which we have trade agreements.

President Barack Obama tapes the Weekly Address in the Diplomatic Reception Room of the White House.
June 12, 2015.
(Official White House Photo by Chuck Kennedy)

In this week's address, the President reiterated that his top priority is to grow the American economy and ensure that every hardworking American has a fair shot at success. It’s because of this commitment that the President has worked to enact smart new trade agreements that level the playing field for our workers, open new markets for our businesses, and hold other countries to the kinds of high standards that Americans are proud to hold ourselves to here at home.

On Friday, Republicans and Democrats in the House took an important step by voting to help the United States negotiate and enforce high-standard trade deals. But they also failed to renew Trade Adjustment Assistance, despite the fact that it provides vital support to about 100,000 workers, and passed the Senate with bipartisan support. The President urged the House to pass TAA without delay so that more middle-class workers can earn the chance to participate and succeed in our global economy.

]]>The PresidentWhite HouseWeekly AddressTrade and ExportsEconomyBarack ObamaChuck KennedyObama DeliversTanya SomanaderUnited StatesSat, 13 Jun 2015 10:00:00 +0000<a href="/blog/author/Tanya Somanader" class="author-name">Tanya Somanader</a>339746 at https://www.whitehouse.govSee the Drought Briefing the President Received Today -- and the Numbers Behind it:https://www.whitehouse.gov/blog/2015/06/12/see-drought-briefing-president-received-today-and-numbers-behind-it
This morning, in the White House Situation Room, the President -- along with several governors and members of his Cabinet -- received a briefing on drought and wildfire preparedness.

We wanted to make sure you saw what he saw, too. Take a look at the briefing the President received this morning here:

We've pulled together some of the key numbers you need to know in order to fully get your head around the drought currently underway across the American West.

Take a look, and if you don't think enough people know about this (and you'd be right), pass it on.

18,000

]]>The PresidentWhite HouseEconomyEnergy and EnvironmentArizonaCaliforniaColoradoLindsay HolstMontanaOregonUnited StatesUtahWashingtonWyomingFri, 12 Jun 2015 18:02:24 +0000<a href="/blog/author/Lindsay Holst" class="author-name">Lindsay Holst</a>339711 at https://www.whitehouse.govWest Wing Week: 06/12/15 or, "Walking And Holding Hands"https://www.whitehouse.gov/blog/2015/06/12/west-wing-week-061215-or-walking-and-holding-hands
This week, the President honored the life of Beau Biden, traveled to Germany to meet with G7 leaders, celebrated the achievements of the Affordable Care Act, and met with a reporter who benefited from that very legislation. That's June 5th to June 11th or, "Walking And Holding Hands."

]]>The PresidentThe Vice PresidentThe First LadyWhite HouseReach HigherEconomyEducationForeign PolicyAdam Garberal-AbadiBeau BidenCare ActChicagoGermanyIraqJerry PenacoliFri, 12 Jun 2015 14:01:22 +0000<a href="/blog/author/Adam Garber" class="author-name">Adam Garber</a>339681 at https://www.whitehouse.govTrade Adjustment Assistance: What You Need to Know https://www.whitehouse.gov/blog/2015/06/11/trade-adjustment-assistance-what-you-need-know
The 21st century economy is driven by an ever-changing global marketplace. What was once a fledgling business or industry can quickly grow to redefine consumer demand and reshape our workforce.

Americans are the most productive workforce in the world, and to outcompete other countries, it is vital that they have all the job training and other support they need to tap into new opportunities that the 21st century economy presents.

That is why Congress needs to reauthorize the Trade Adjustment Assistance program (TAA).

What is Trade Adjustment Assistance?

]]>White HouseTrade and ExportsEconomyChinaIndiaJeff ZientsJeffrey ZientsTanya SomanaderTom PerezThu, 11 Jun 2015 22:48:40 +0000<a href="/blog/author/Jeffrey Zients" class="author-name">Jeffrey Zients</a>339591 at https://www.whitehouse.govChart of the Week: What It Takes to Start a Business in Americahttps://www.whitehouse.gov/blog/2015/06/11/chart-week-what-it-takes-start-business-america
When it comes to ease of doing business, America is top 10 in the world. But when it comes to starting a business, we’re ranked 46th.

For a country that the most creative, productive, and innovative entrepreneurs call home, this shouldn’t be the case. So why is it so challenging to launch a startup here?

Every entrepreneur or small business owner faces some red tape when starting or expanding a business, such as:

Setting up a legal business structure

Understanding zoning laws and licensing requirements

Acquiring licenses and permits

Those challenges may translate into time and frustration that can deter entrepreneurs from turning a remarkable idea into a business.

Check out the chart to see just how much time it takes Americans to discover, apply for, and acquire licenses and permits, compared to entrepreneurs in other countries: